NIFTY
Current: 4,950 (Futures: 4,930);
Target: NA
The index closed bearish. A swing on settlement day could take down till 4,875 or up again till 5,025.
Stop-loss long positions at 4,900 and stop-loss shorts at 5,000. A long 4,900p (12) and long 5,000c (3) could pay off big if there's a swing early in the session.
BANK NIFTY
Current: 9,535 (Futures: 9,467),
Target: 9,300
The financial index saw a selloff. If the downtrend continues, the index could fall till 9,250-9,300. Keep a stop at 9,575 and short. Add to the position between 9,350 and 9,400. Book profits below 9,300.
IDFC
Current: Rs 120;
Target: Rs 115
The stock could slide till around Rs 114-115. Keep a stop at Rs 122 and go short. Add to the position between Rs 117 and Rs 119. Start booking profits below Rs 115.
TATA MOTORS
Current price: Rs 243;
Target price: Rs 235
The stock could bounce back till Rs 255-258 on short covering. However, it is more likely to fall till the Rs 233-235 levels. Keep a stop at Rs 248 and go short. Add to the position between Rs 239 and Rs 241. Book profits below Rs 235. If it moves above Rs 248, consider a long position.
AMBUJA CEMENT
Current price: Rs 153;
Target price: Rs 158
The stock has made an upside breakout. It has resistance at Rs 154. If it rises above that Rs 154, it could move till around Rs 158-160. On the downside, it could slide till Rs 147. Keep a stop at Rs 150 and go long. Add to the position between Rs 154 and Rs 155. Book profits above Rs 158.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
